CarsonAllaria Wealth Management Ltd. Sells 121 Shares of Eli Lilly and Company (NYSE:LLY)

CarsonAllaria Wealth Management Ltd. trimmed its stake in Eli Lilly and Company (NYSE:LLY) by 7.6% during the 4th quarter, HoldingsChannel reports. The fund owned 1,476 shares of the company’s stock after selling 121 shares during the quarter. Eli Lilly and Company comprises 0.7% of CarsonAllaria Wealth Management Ltd.’s holdings, making the stock its 26th biggest position. CarsonAllaria Wealth Management Ltd.’s holdings in Eli Lilly and Company were worth $1,140,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Peterson Financial Group Inc. bought a new stake in Eli Lilly and Company in the third quarter worth $27,000. MidAtlantic Capital Management Inc. bought a new stake in Eli Lilly and Company in the third quarter worth $30,000. Highline Wealth Partners LLC boosted its holdings in Eli Lilly and Company by 80.0% in the fourth quarter. Highline Wealth Partners LLC now owns 45 shares of the company’s stock worth $35,000 after acquiring an additional 20 shares in the last quarter. Cedar Mountain Advisors LLC boosted its holdings in Eli Lilly and Company by 53.3% in the third quarter. Cedar Mountain Advisors LLC now owns 46 shares of the company’s stock worth $41,000 after acquiring an additional 16 shares in the last quarter. Finally, West Financial Advisors LLC bought a new stake in shares of Eli Lilly and Company in the 3rd quarter worth $58,000. 82.53% of the stock is owned by institutional investors.

Eli Lilly and Company Price Performance

Shares of NYSE:LLY opened at $843.82 on Thursday. The firm has a fifty day moving average price of $785.46 and a 200 day moving average price of $843.28. Eli Lilly and Company has a fifty-two week low of $691.10 and a fifty-two week high of $972.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 0.97 and a current ratio of 1.27. The firm has a market cap of $801.05 billion, a price-to-earnings ratio of 91.22, a P/E/G ratio of 1.72 and a beta of 0.42.

Eli Lilly and Company declared that its board has authorized a share buyback plan on Monday, December 9th that permits the company to buyback $15.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Eli Lilly and Company Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 10th. Stockholders of record on Friday, February 14th will be paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 0.71%. This is a positive change from Eli Lilly and Company’s previous quarterly dividend of $1.30. The ex-dividend date is Friday, February 14th. Eli Lilly and Company’s dividend payout ratio (DPR) is presently 64.86%.

Insider Transactions at Eli Lilly and Company

In other Eli Lilly and Company news, CAO Donald A. Zakrowski sold 900 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $803.38, for a total transaction of $723,042.00. Following the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.13% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on LLY. Wolfe Research began coverage on Eli Lilly and Company in a report on Friday, November 15th. They issued an “outperform” rating and a $1,000.00 target price for the company. Wells Fargo & Company reduced their target price on Eli Lilly and Company from $1,000.00 to $970.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Sanford C. Bernstein began coverage on Eli Lilly and Company in a report on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price for the company. Citigroup reduced their target price on Eli Lilly and Company from $1,250.00 to $1,190.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, Redburn Atlantic raised Eli Lilly and Company to a “hold” rating in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $997.50.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.